EVO, Rozetka to create merged company managed by board of directors

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Marketplaces EVO and Rozetka in the process of their merger would create a merged company, which will be managed by a board of directors with representatives of the two sides, EVO CEO Mykola Paliyenko has told Interfax-Ukraine.

"The operational management of the EVO business remains unchanged. A board of directors will be created in the merged company, which will include EVO and Rozetka representatives. There will not be any global changes in the EVO group's work in the near future. All projects and teams will continue their work," he said.

Paliyenko said that the decision to merge the companies was based on the desire to accelerate the development of the e-commerce market in Ukraine and build a full ecosystem of services around the buyer.

"To do this, you need to have a lot of weight and opportunities for investing in infrastructure. Merging with Rozetka gives more opportunities for joint development, and all our customers - both sellers and buyers - will win from this," he said.

The EVO CEO also said that all plans to launch new projects and develop existing ones remain in place. In the near future, there will be also no changes in the work on international markets.

Paliyenko did not specify the cost of the deal, but he said that together with Rozetka it is planned to implement projects of a larger scale on a substantially larger client base.